Buying a home sprouts so many questions about the mortgage process. Discover the answers to the most frequent questions homebuyers ask, like how to verify assets for lenders, what documentation is needed when applying for a mortgage, and more with our mortgage FAQ’s articles.
While finding the right loan for your home purchase can feel overwhelming, a conventional mortgage offers most buyers the clearest path to homeownership. By combining flexibility with competitive rates, a conventional loan is often the most appealing choice for those ready to buy. In this guide, we’ll help you unravel the ins and outs of…
With home prices and interest rates remaining high, more home buyers are looking for ways to lower their monthly mortgage payments. That’s where adjustable-rate mortgages (ARMs) come in. A 5/1 ARM and a 5/6 ARM both start with a fixed interest rate for the first five years, followed by periodic adjustments. But what happens after…
For many aspiring homeowners, especially those eager to become first-time buyers, the dream of owning a home can feel just out of reach. Until a generous gift changes everything, that is. Whether a family member wants to help you build your future or you’re considering asking for support, gift money for a down payment can…
Rising home values in 2022 and into 2023 have contributed to overall market volatility and made it more challenging to be a buyer. However, this real estate market has proven to be a boon to many homeowners who are content to stay put. That’s because higher home values mean they have more equity than ever….
Buying a home in a high-interest-rate environment requires careful planning and strategic decision-making. Despite these challenges, there are effective strategies to navigate this market and achieve your homeownership goals. Whether you’re considering adjustable-rate mortgages, shorter-term fixed-rate loans, or exploring other financial options, understanding how to manage in this environment can make all the difference. Anyone…
For some prospective homebuyers, rising interest rates might make it feel like the dream of homeownership is slipping away. The good news is that even in a high-rate environment, you have multiple strategies to help you lower your interest rate or the total cost of your loan. One such strategy is the mortgage buydown. Mortgage…
Let’s give credit where it’s due – to you. You’re here because you’re looking into how your credit score affects your ability to buy or refinance a home and to understand how your credit can impact the rates you’re offered. Understanding how credit affects mortgage rates is crucial, as it’s one of the primary factors…
Understanding how home appraisals work may not be on everyone’s list of burning questions, but if you’re buying, selling, or refinancing a house, it should be at the top of your mind. There’s a whole host of questions that come with this process: what to expect, costs involved, and what’s in the appraisal report. We’re…
You’re ready to purchase a home and step into a new chapter of your life. Or maybe you’re ready to refinance, which also means a new chapter. You could save money on your mortgage every month and then take cash out to pay off credit card debt, afford a new home renovation or go on…
Is now the right time to refinance my mortgage? Maybe. There are compelling reasons to refinance, especially with rising home values and low interest rates. Whether it’s right for you depends on your financial situation. Let’s explore the benefits and factors to consider before making this significant financial decision. Reasons homeowners refinance and what to…
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